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Audacious Adler Wants to Have His Wall Street Cake and Eat It Too

May 17, 2010

Former Goldman Sachs CEO, Jon Corzine with John Adler (AP Photo/Mel Evans)

In a pompous display of hypocrisy, Wall Street pal John Adler paraded out local residents and community and business leaders to “demonstrate how Washington is failing the residents on Main Street by not reforming the way Wall Street does business.”

An Adler press release goes so far as to note that “[a]s Washington fails to deliver financial regulatory reform, college graduates, seniors and small business owners suffer.”  Ironically, the release fails to mention that as a member of the majority party and sitting on the House Committee on Financial Services, Adler’s very own ineffectiveness epitomizes the “Washington” failures he criticizes. In essence, he is admitting he is part of the problem, not the solution.

To make matters worse, I’ve pointed out numerous times in the past that Adler’s failed leadership has not only weakened financial reform, but all the while, he has used the industry as his personal campaign ATM.

…NJ freshman Congressman John Adler had the fifth highest amount of contributions from the finance industry among members who “offered amendments to weaken consumer protections included in the [Wall Street Reform and Consumer Protection Protection Act].”

While his Congressional website boats that “John has taken major steps to bring accountability to the financial services industry and pass consumer protection reforms,” Adler received 15.5% of his $1,387,093 (or $215,598) in 2009 from the financial sector according to the Center for Responsive Politics.

For more examples of Adler’s cozy Wall Street relationship, also check out these previous posts:

Adler is Idle as Wall Street Executive Bonuses Sky Rocket
TPM: Adler Hobnobbed With Wall Street Execs Before Weakening Reform Bill

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One Comment leave one →
  1. RED CamCO permalink
    May 17, 2010 5:38 pm

    It’s nice to see Alder with his buddy…..Between the two of them, they suck the air out of any room, take away all the money in your pocket, and diminish any chance of living the American Dream.

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